As a journalist, on low pay, I was immediately angered by the title. And therefore had to have a read. Annoyingly its author, Robert G. Picard, makes perfect sense. This is not so much an article on why journalists deserve low pay (for now); rather a thesis on the very reason journalism, as a concept, is struggling for breathe.

Broken down it says:

Economic value is rooted in worth and exchange. It is created when finished products and services have more value – as determined by consumers – than the sum of the value of their components.

That’s the first time I’ve seen what I do broken down into its raw economic terms.

These benefits used to produce significant economic value. Not today. That’s because producers and providers have less control over the communication space than ever before,

So the reason newspapers aren’t making money, and radio & TV are losing money: they’ve lost their economic value.

Journalists are not professionals with a unique base of knowledge such as professors or electricians. Consequently, the primary economic value of journalism derives not from its own knowledge, but in distributing the knowledge of others. In this process three fundamental functions and related skills have historically created economic value: Accessing sources, determining significance of information, and conveying it effectively.

This too has been diminished by the internet and social media. So not only has journalism lost its value, so have journalists.

Today all this value is being severely challenged by technology that is “de-skilling” journalists….until journalists can redefine the value of their labor above this level, they deserve low pay.

It’s so refreshing to see our profession reduced to its raw bones; and until we solve these core issues of value in what we do, no pay-wall or subscription fee will save us.